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which collectively would avert the entire fiscal cliff if enacted. those bills await action by the senate if the senate will not approve and send them to the president to be signed into law in their current form. they must be amended and returned to the house. the house will take this action on whatever the senate can pass, but the senate must first act. the house has passed bills that would never pass the senate. speaker boehner's position is a joke. senate majority leader harry reid responded, house republicans pushed middle class families closer to the blip by wasting an entire week with their incompetent plan b stunt no further legislation can move through the senate until republicans drop their knee jerk obstruction. the house is literally phoning it in, tomorrow's conference call will reportedly include the entire caucus, not just republican leadership, the irony is that if we go over the cliff, the president will get whatever he wants on texas, and there's been a growing acknowledgement of this by some house and senate republicans. here's sena
which collectively would avert the entire fiscal cliff if enacted. those bills await action by the senate if the senate will not approve and send them to the president to be signed into law in their current form. they must be amended and returned to the house. the house will take this action on whatever the senate can pass, but the senate must first act. the house has passed bills that would never pass the senate. speaker boehner's position is a joke. senate majority leader harry reid...
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as we approach the fiscal cliff, approach the deadline, the president is still polls better than house republicans in terms of how they dealt with the crisis, better -- if this doesn't end up happening, who gets the lion's share blame, do you think, heading into the next year? will the president still be able to maintain his popularity? >> the president may take a little bit after hit on his popularity as everyone involved in process will p.m. but as you said, the president is sitting on very good job approval ratings compared to congress as a whole and specifically republicans. i think they will get the lion's share of the blame. and to touch on something kelly mentioned in her report about how one of the ideas being discussed is taking the boehner bill of extending all of the bush tax cuts, sending it to the senate and having them amend it, i don't see how you get -- how that would be welcomed among senate democrats because, you know, were would -- why would they vote for that? i think we should look as the -- you know, the cliff notes michael o'brien wrote on nbc news to see where c
as we approach the fiscal cliff, approach the deadline, the president is still polls better than house republicans in terms of how they dealt with the crisis, better -- if this doesn't end up happening, who gets the lion's share blame, do you think, heading into the next year? will the president still be able to maintain his popularity? >> the president may take a little bit after hit on his popularity as everyone involved in process will p.m. but as you said, the president is sitting on...
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50s on the fiscal cliff. they don't want to give up things. they don't want to give up cuts to medicare or social security in order to get a deal that may not be best for them. if you look at game theory, you know, economic and political game theory, if all the players understand the strategies of the other players and act rationally, sometimes they won't move off the strategy that they are on. >> should americans have optimist about this 3:00 meeting this afternoon at the white house or basically it's humpty-dumpty, we're going off the wall, we're going to break, but we can be put back together. >> it doesn't mean they won't get an agreement on the phone, but i don't remember any high-plo file white house meeting producing anything other than leaked stories about how one leader told the other leader how tough he is and how weak the other guy is. these are, generally speaking made for optics, so we talk about it. >>> jonathan allen, great to see you, thank for your time. >> my pleasure. >>> we talked in the l
50s on the fiscal cliff. they don't want to give up things. they don't want to give up cuts to medicare or social security in order to get a deal that may not be best for them. if you look at game theory, you know, economic and political game theory, if all the players understand the strategies of the other players and act rationally, sometimes they won't move off the strategy that they are on. >> should americans have optimist about this 3:00 meeting this afternoon at the white house or...
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Dec 31, 2012
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. ♪ >> this country is about to take a plunge over the fiscal cliff. who is really to blame? watcjomg this one. >> president has a decision to make. he can support these measures or be responsible for reckless spending and the largest tax hike in american history. >> the republicans in the house have decide to do rundown an alley that has no exit. >> republicans aren't about to write a blank check or anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> every time we come to a solution it was a year and a half ago in the summer right now the republicans walk away. >> don't automatically assume the president wants to cut a deal. i think he wants to wait to see if he gets blamed for it before he starts really negotiating. >> nobody can get 100 percent of what they want. this is not a contest between parties in terms of who looks good and who doesn't. >>> the real consequences to what we do. >> fox news contributor and democratic pollster doug sho/* schoen is here. >> the latest poll indicates that the country 44 percent blame congress
. ♪ >> this country is about to take a plunge over the fiscal cliff. who is really to blame? watcjomg this one. >> president has a decision to make. he can support these measures or be responsible for reckless spending and the largest tax hike in american history. >> the republicans in the house have decide to do rundown an alley that has no exit. >> republicans aren't about to write a blank check or anything senate democrats put forward just because we find ourselves...
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to avoid the fiscal cliff and deal with the deficit in a balanced way. in fact, as we know, republicans like tom cole, a very conservative member from oklahoma, and others have said that that approach makes sense. and yet the speaker refuses to allow a vote on that proposal. and so allow democracy to work and so far unfortunately, speaker boehner has been held captive with the tea party wing of the republicans in the house, which voted down his own proposal just about a week ago, because he said, well, we should ask folks making over $1 million to pay more. his caucus said no. so what we're saying is, let the whole house, democrats and republicans, vote on the president's proposal. let democracy work its will. worst case scenario is that would be defeated. but you don't know until you hold a vote in the house of representatives. that's how democracy is supposed to work. it's not supposed to allow a small, extreme group within the republican caucus to dictate terms to the country. >> there is some indication from the hill that the call to bring vice presi
to avoid the fiscal cliff and deal with the deficit in a balanced way. in fact, as we know, republicans like tom cole, a very conservative member from oklahoma, and others have said that that approach makes sense. and yet the speaker refuses to allow a vote on that proposal. and so allow democracy to work and so far unfortunately, speaker boehner has been held captive with the tea party wing of the republicans in the house, which voted down his own proposal just about a week ago, because he...
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. >> president obama gave senate leaders a plan to avoid the fiscal cliff. if we go over the cliff, many of you decided who is to blame. 44 percent blame republicaning in congress. here to help us sort it out is the republican strategist and former iowa press secretary. you saw the poll on who gets the blame for this according to rasmusin . does this give president obama breathing room to hold out for the taxes on high earners. so be it it will be worse for conditions. >> i don't think either side wants this to happen. president obama doesn't want to give an inaugural address . conscience don't want to go over the cliff either. you want to start out in a new congress and in the new year on a right foot with a bipartisan agreement. we'll have a smaller deal hopefully before new years. >> i want to play a sound by the from charles krauthammer and get your take on this. listen to charles. >> it is clear from the beginning he had no intention to solve the fiscal issues. he's been using this and i must say with great skill and ruthless skill and success to fractu
. >> president obama gave senate leaders a plan to avoid the fiscal cliff. if we go over the cliff, many of you decided who is to blame. 44 percent blame republicaning in congress. here to help us sort it out is the republican strategist and former iowa press secretary. you saw the poll on who gets the blame for this according to rasmusin . does this give president obama breathing room to hold out for the taxes on high earners. so be it it will be worse for conditions. >> i don't...
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i don't think the fiscal cliff problem hit social security or medicare right away. they kind of sealed that off from se questions ration. but you mentioned unemployment before. there are a variety of other government programs that will be drastically cut back on tuesday morning if we don't get some kind of a deal by monday night. >> you know, ryan, when you look at -- when clarence was talking,ives looking and i think i have it. bills that republicans and congress have blocked this year. a bill that would have increased the minimum wage, a buffet rule bill, the employment, nondis crimination act that would have prohibited hiring people on the basis of sexual orientation. a u.n. treaty to protect the rights of disabled people around the world and the paycheck famous act so that women don't get paid less than men for doing the same job. i mean, there's been a variety of bills that they have seen not go past. they have actually stopped in a variety of ways that would have helped the american people. >> yeah, and you can throw the violence against women act, reauthoriza
i don't think the fiscal cliff problem hit social security or medicare right away. they kind of sealed that off from se questions ration. but you mentioned unemployment before. there are a variety of other government programs that will be drastically cut back on tuesday morning if we don't get some kind of a deal by monday night. >> you know, ryan, when you look at -- when clarence was talking,ives looking and i think i have it. bills that republicans and congress have blocked this year....
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the fiscal cliff happening right now. what kind of government should we have and what sort of taxes and spending and who should pay what and end the year with a story about everything that touching scenion do with government that we have been arguing about since the start of the election. >> greta: let's have some fun stuff. linn sanity. >> i particularly enjoyed linn sanity. a wonderful story because he was a guy who came from out of no where who had been cut, released, overlooked by other people but also just didn't fit the type of an nba star are that we see in the modern era. an asian american. a short guy who basically took hold of the team in the biggest media market in the country and led the new york nixon this terrific winning streak. petered out a little bit. still needs to work on turnovers. having mixed success in houston. that was sentimentally that was my favorite story of the year. >> greta: for 2013, pay attention to africa. you mentioned the arab spring but i think africa is and what is going on there wil
the fiscal cliff happening right now. what kind of government should we have and what sort of taxes and spending and who should pay what and end the year with a story about everything that touching scenion do with government that we have been arguing about since the start of the election. >> greta: let's have some fun stuff. linn sanity. >> i particularly enjoyed linn sanity. a wonderful story because he was a guy who came from out of no where who had been cut, released, overlooked...
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there will be a deal to, quote, avert the fiscal cliff. your viewers should demand more than a deal, they should demand a solution. >> do you think it's the right idea to cave in if really the republicans do not believe this is the right thing for the best interests of the country, to go ahead and agree to having more expenditures, to not cutting any of these entitlements. this reckless spending has to come to an end at some points. we have the future and the children to think of. >> so much for a balanced approach. the bammed approach as near as i can do do exactly what i want exactly what when i want you to do it. but the reality is the house democrats will could be he -- gt enough involvements my vote will not one of them and the group of conservatives i run with will not be among the votes that vote for the so-called deal. but it will pass and we will be arguably further from a solution than we were this time last year. >> so you think a temporary fix is going to come to pass but ultimately, like you said, you and several of your colle
there will be a deal to, quote, avert the fiscal cliff. your viewers should demand more than a deal, they should demand a solution. >> do you think it's the right idea to cave in if really the republicans do not believe this is the right thing for the best interests of the country, to go ahead and agree to having more expenditures, to not cutting any of these entitlements. this reckless spending has to come to an end at some points. we have the future and the children to think of....
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the leadership for being on vacation as the nation teeters on the edge of the so-called fiscal cliff. house republicans are holding a conference call from their districts that should be starting right about now we are told. steny hoyer urged them to come back to work and find a solution. >> i hope they can conclude as we have concluded and i speak for leader pelosi, myself and all of the democratic leadership that we must come back as soon as possible to work together to reach a compromise to assure that we are address the importance legislation that is still pending in this congress. a congress i believe is the least productive, most con front asianal and least compromising congress in which i have concerned and i've been here since 1981. >> that's saying a lot. at this point, it's not clear whether that conference call we mentioned with the house republicans, it's not clear whether that call meant to give members the 48-hour notice to get back to work. with five days before the spending cuts and tax hikes to take effect, we learned today that negotiators are talking. the white hous
the leadership for being on vacation as the nation teeters on the edge of the so-called fiscal cliff. house republicans are holding a conference call from their districts that should be starting right about now we are told. steny hoyer urged them to come back to work and find a solution. >> i hope they can conclude as we have concluded and i speak for leader pelosi, myself and all of the democratic leadership that we must come back as soon as possible to work together to reach a...
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tackle fiscal cliff. the most visible former elected official in the tea party and, of course, chairman of freedom works tried to oust several freedom works officials this fall. in fact, according to the post, army thieves control momentarily of the group. and he brought a gun carrying aide to remove rivals within the organization. but within a week, army was out. freedom works arranged an $8 million pay page for him. $8 million. that is more than the organization's entire annual budget in some years. over in the house, several tea party allies were recently stripped of their committee assignments by speaker boehner. so there are some problems there at the top. an influential conservative is lashing out. >> the tea party is going of to look at itself. it's been so helpful to the republican party in the past. it saved i by not going third party in 2010, helping the republicans sweep the house. but the tea party style of rage is not one that wins over convertes and makes people lean toward them and say, i w
tackle fiscal cliff. the most visible former elected official in the tea party and, of course, chairman of freedom works tried to oust several freedom works officials this fall. in fact, according to the post, army thieves control momentarily of the group. and he brought a gun carrying aide to remove rivals within the organization. but within a week, army was out. freedom works arranged an $8 million pay page for him. $8 million. that is more than the organization's entire annual budget in some...
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the republican lawmakers are likely hoping that means he is rested and ready make a deal on the fiscal cliff. however, chief white house correspondent ed henry tells us that washington may have to set with a backup plan to the backup plan. >> christmas tradition for president obama. he and first lady michelle obama saying thanks at the marine corps base hawaii. >> so many of you make sacrifices day in and day out on behalf of the freedom and behalf of the security. >> now the president is giving up some vacation time rushing back to washington aboard air force one late tonight to deal with the looming fiscal cliff. after that red eye, the president will no doubt need coffee. starbucks decided to get political in the washington, d.c., shops, by having employees write come together on cups. ceo howard schultz writing in open letter, "my hope is the simple message will serve as holiday reminder from starbuck of the spirit that bridgeed differences and we have the power to come together and make a difference in every season of the year." the president and speaker john boehner have not spok
the republican lawmakers are likely hoping that means he is rested and ready make a deal on the fiscal cliff. however, chief white house correspondent ed henry tells us that washington may have to set with a backup plan to the backup plan. >> christmas tradition for president obama. he and first lady michelle obama saying thanks at the marine corps base hawaii. >> so many of you make sacrifices day in and day out on behalf of the freedom and behalf of the security. >> now the...
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fiscal cliff. let's take a listen. >> we'll see what the president has to propose. members on both sides of the aisle will review it, and then we'll decide how best to proceed. hopefully, there's still time for an agreement of some kind that saves the taxpayers from a wholly, wholly preventable economic crisis. mr. president, i yield the floor. >> the majority leader. >> i'm not sure my distinguished republican counterpart has followed what has taken place in the house of representatives. the house, as reported lie the press and we all know, one of the plans that didn't have a name, it wasn't plan "b," i don't know what plan it was because they've had a number over there, but this plan was to show the american people that the $250,000 ceiling on raising taxes wouldn't pass in the house. why didn't they have that vote? because it would have passed. they wanted to kill it. the speaker wanted to show everybody that it wouldn't pass the house. but he couldn't bring it up for vote because it would have
fiscal cliff. let's take a listen. >> we'll see what the president has to propose. members on both sides of the aisle will review it, and then we'll decide how best to proceed. hopefully, there's still time for an agreement of some kind that saves the taxpayers from a wholly, wholly preventable economic crisis. mr. president, i yield the floor. >> the majority leader. >> i'm not sure my distinguished republican counterpart has followed what has taken place in the house of...
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the republicans begin playing games with the debt ceiling, that would be fiscal suicide. we breakthrough the debt ceiling, we're talking depression. not a quick recession. it would be the single stupidest and most damaging act of sabotage in american history. and it cannot be allowed to happen. and here, hopefully to tell me why it will not happen is alice, who probably knows more about the budget and the budget deals than probably anybody else alive. she's appointed to president obama's national commission on fiscal responsibility and reform. and she's currently a senior fellow at the brookings instituti institution. thank you for being here tonight. >> happy to be here. >> you know much more about this than i do. you heard the intro, is there anything you want to add or correct anyway you see the fiscal cliff that you think people should know about? >> i thought your five points were good ones, especially the one about austerity, what we're talking about now is doing something really stupid as you said, and letting the wrong policies go into effect. too much deficit red
the republicans begin playing games with the debt ceiling, that would be fiscal suicide. we breakthrough the debt ceiling, we're talking depression. not a quick recession. it would be the single stupidest and most damaging act of sabotage in american history. and it cannot be allowed to happen. and here, hopefully to tell me why it will not happen is alice, who probably knows more about the budget and the budget deals than probably anybody else alive. she's appointed to president obama's...
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none of which deal with the fiscal cliff. they deal with honoring the last surviving world war i veteran who died last year dealing with drywall safety and things. and there will be a couple meetings again democrats in one room and republicans in the other, and they will try to see if the republican leaders and the democratic leaders have produced if they can possibly sell this to the house of representatives. historically that has been a hard, hard sell. >> you know, you have been keeping us uh prized all morning and all afternoon and in the evening with your e-mails and your blog. one of the things you pointed out today is that it is not necessarily that line of taxes. no one above or below a certain point. but it is the spending cuts that are really the target, that are really the sticking point. why is that? >> that's always the hardest part. back to the 1980s when the deficits have started to explode, there have been four or five pieces of legislation over the past 30 years dating back to hollings that was the first sequ
none of which deal with the fiscal cliff. they deal with honoring the last surviving world war i veteran who died last year dealing with drywall safety and things. and there will be a couple meetings again democrats in one room and republicans in the other, and they will try to see if the republican leaders and the democratic leaders have produced if they can possibly sell this to the house of representatives. historically that has been a hard, hard sell. >> you know, you have been...
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the house had two bills that collectively can avert the entire fiscal cliff if enacted. those bills await action by the senate. >> the classic ping pong gridlock and no way out. >> it's important to know how far we have come in the last seven days. a week ago we were closer than we had seen before on a particular deal. john boehner made a big concession allowing tax cuts to rise on income over a million dollars. president obama countered with a big concession and saying that that should be $400,000 and have fixes to social security on costs of living adjustments on that. what ended up happening? john boehner retreated their plan b that mike viquiera was talking about that was unable to pass and now we are in the stalemate we are in now. we were closer than before. >> you touch on a good point. that's lost now in the media. we are going-over the cliff. last week they are $450 billion away from a deal. that's less than 1% of the federal spending over the next decade. in d.c. terms, 400 billion seems like a lot. that's a drop in the bucket in d.c. terms. it's amazing that s
the house had two bills that collectively can avert the entire fiscal cliff if enacted. those bills await action by the senate. >> the classic ping pong gridlock and no way out. >> it's important to know how far we have come in the last seven days. a week ago we were closer than we had seen before on a particular deal. john boehner made a big concession allowing tax cuts to rise on income over a million dollars. president obama countered with a big concession and saying that that...
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. >> we are nowhere when it comes to the fiscal cliff talks. let me tell you what's going to happen today. speaker john boehner, the republican speaker, is going to try to pass what he calls his plan b, which would just simply address tax rates for those making a million dollars or more and that's it. >> john boehner walked away from the obama administration's third offer. a giant, giant compromise. so he didn't like it when they led. he didn't like the 2340eshing. he decided instead to chart his own course called plan b. plan b was supposed to show president obama that republicans had their own solution and instead of bothering with his offer they would just go ahead and pass their own plan without him. that was the idea, anyway. >> there is breaking news to report tonight out of washington. strange breaking news out of washington. within the last hour republican house speaker john boehner appears to have completely lost control of his own caucus. just about an hour ago john boehner was forced to pull his own plan off the floor because it turn
. >> we are nowhere when it comes to the fiscal cliff talks. let me tell you what's going to happen today. speaker john boehner, the republican speaker, is going to try to pass what he calls his plan b, which would just simply address tax rates for those making a million dollars or more and that's it. >> john boehner walked away from the obama administration's third offer. a giant, giant compromise. so he didn't like it when they led. he didn't like the 2340eshing. he decided...
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my personal view he does not want an agreement with republicans, he wants us to go over the fiscal cliff because republicans will get flamed and we will have a different scenario with the lowest rate not being 10%, but 15%, top rate of 35 to 40%, 42. and then tax cuts. david: the responsibility of political purposes is astounding to me. the only contradicting what he said a year ago, but got taken the advice of some of the top economic advisors that will go into recession. >> it is astounding. they also applies going over the fiscal cliff for that very reason. they want top tax rates to go up and are focusing on rates rather than revenue. we would have lower revenue took away some of these deductions. david: if we go into a recession, we will get far less revenue, nothing kills revenue coming into the treasury like a recession. there is no dispute about it. if you want to lose 100, $200 in tax revenue you go into a recession. all the money he thinks he's going to get from rich people by hiking the tax rate will be lost, double lost by going into a recession. >> that is exactly right. tha
my personal view he does not want an agreement with republicans, he wants us to go over the fiscal cliff because republicans will get flamed and we will have a different scenario with the lowest rate not being 10%, but 15%, top rate of 35 to 40%, 42. and then tax cuts. david: the responsibility of political purposes is astounding to me. the only contradicting what he said a year ago, but got taken the advice of some of the top economic advisors that will go into recession. >> it is...
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republicans say they would like to see any tax revenue that comes out of a fiscal cliff deal used to pay down our trillion dollars deficits. retiring republican senator from arizona, jon kyl, said the democrats want to spend $600 billion and he believes the new tax revenue will be about the same am. to he says not solving anything. for from senator to an today. >> raising taxes to pay for new spending is not something republicans believe this debate ought to be about. it ought to be about reducing the deficit and debt. they're suggesting we want new taxes, higher taxes on people in this country to pay for new spending. >> republicans continue saying they're waiting for harry reid to make a counter offer. >> they're not making that tonight. he's told us that's not going to happen it but they're working on it. a sounds like a change of entitlement programs is irritating them. >> republicans created way of calculating inflation to lower payments to recipients of social security. the senate majority leader offered this update a short time ago. >>> i was really gratified to hear republica
republicans say they would like to see any tax revenue that comes out of a fiscal cliff deal used to pay down our trillion dollars deficits. retiring republican senator from arizona, jon kyl, said the democrats want to spend $600 billion and he believes the new tax revenue will be about the same am. to he says not solving anything. for from senator to an today. >> raising taxes to pay for new spending is not something republicans believe this debate ought to be about. it ought to be about...
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fiscal cliff gets closer. congress now has six days left to make a deal. >> aloha, hawaii. >> to my republican colleagues, the ronald reagan model is if you get 80% of what you want, that's a pretty good day. >> they were this close. they were this close to a solution. >> he's going to get tax rate hikes. >> are we going over the cliff? >> i believe we are. >> be republican and be conservative and pass a bill that cuts tax. >> boehner has no control over his extreme right wing faction. >> should anybody's taxes be raised at this point? answer yes or no. >> no. no. ♪ >> we begin as president obama and the senate head back to washington set for one last effort to avert the first fiscal cliff. aloha means good-bye for the president as he packs bound for the white house tonight. the president cutting short his vacation leaving michelle and the girls behind as he gets back to work to try to prevent tax increases and spending cuts due to begin next week. there's just one problem. it appears there would be no house
fiscal cliff gets closer. congress now has six days left to make a deal. >> aloha, hawaii. >> to my republican colleagues, the ronald reagan model is if you get 80% of what you want, that's a pretty good day. >> they were this close. they were this close to a solution. >> he's going to get tax rate hikes. >> are we going over the cliff? >> i believe we are. >> be republican and be conservative and pass a bill that cuts tax. >> boehner has no...
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if we get a small deal before we go over the fiscal cliff, either because harry reid and mitch mcconnell come to a deal in the senate, or because democrats jam the republicans in congress, it's mostly going to be about extending the bush tax cuts for the middle class, which will mean letting them expire for the rich. that will net somewhere around $600 billion in new tax revenue. the white house will pocket that. they will have got in three quarters of what they wanted last year, before even the negotiations had really kicked off. then we're going to go over the cliff and the pressure will mount quickly to strike another deal. republicans are still going to want entitlement cuts sop the white house will insist that the next deal include a dollar in tax increases for every dollar in spending cuts. so in that next deal, image republicans want $800 billion in spending cuts, a number of they've kicked around before. democrats will say they need that much in taxes, too. and because they've already raised rates, they got those middle class tax cuts extended, and the rich ones expired, they'll
if we get a small deal before we go over the fiscal cliff, either because harry reid and mitch mcconnell come to a deal in the senate, or because democrats jam the republicans in congress, it's mostly going to be about extending the bush tax cuts for the middle class, which will mean letting them expire for the rich. that will net somewhere around $600 billion in new tax revenue. the white house will pocket that. they will have got in three quarters of what they wanted last year, before even...
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cliff meetings and it appears there will be one tomorrow. harris? >> well, what kind of response is the president getting from lawmakers at this point? >> well, senate republicans say they are willing to listen to any ideas the president has as to how to find a way forward. here is more. >> last night i told the president we would be happy to look at whatever he proposes. but the truth is we are coming up against a hard deadline here. and as i said, this is a conversation we should have is had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> the senate is in session and this is the first time either the house or senate has been in session for legislative business between christmas and new year's since 1970. harris? >> harris: not to put too fine a point on, it i guess it is politics, i don't know. saw what looks like a bit of taunting teen the top senate democrat and the top house republican. >> a bit of taunting that happens
cliff meetings and it appears there will be one tomorrow. harris? >> well, what kind of response is the president getting from lawmakers at this point? >> well, senate republicans say they are willing to listen to any ideas the president has as to how to find a way forward. here is more. >> last night i told the president we would be happy to look at whatever he proposes. but the truth is we are coming up against a hard deadline here. and as i said, this is a conversation we...
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Dec 29, 2012
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he thinks the republicans are holding him hostage now on the fiscal cliff. he may be wrong but that's his view. they are going to fight that out. but i saw a very frustrated president who is saying guys, we're now after talking about a big deal that would help the markets, help the american people we have scaled it back to something small and you can't even get that done. he is very angry. visibly frustrated, harris. >> harris: we have been seeing the news being broken on this friday for almost 12 hours on this as the news warrants. ed, we may see you again this hour. thank you. >> i look forward to it. >> harris: senate leaders now say they are entering last-minute talks over the weekend to avert the fiscal cliff. so now it goes to the senate. we will go live to capitol hill at the bottom of the hour as again the focus will shift those senators to get a deal done. all of this having some effect on wall street. the markets finishing in the red for the fifth straight day. the dow sank 158 points, triple digits in trading today. closing below 13,000 for the fi
he thinks the republicans are holding him hostage now on the fiscal cliff. he may be wrong but that's his view. they are going to fight that out. but i saw a very frustrated president who is saying guys, we're now after talking about a big deal that would help the markets, help the american people we have scaled it back to something small and you can't even get that done. he is very angry. visibly frustrated, harris. >> harris: we have been seeing the news being broken on this friday for...
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he decided to put the onus on republicans saying that the fiscal cliff negotiations are up to them. gop leaders now say the president should stop playing the blame game. full details, coming up. the capital one cash rewards card gives ases, plus a 50% annual bonus. and everyone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? no! ♪ festive. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus a 50% annual bonus on the cash you earn. it's the card for people who like more cash. what's in your wallet? [ buzzing ] bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. >> shannon: time for a look at some of the stories making headlines today. good news for former president george h.w. bush. a family spokesman says he is improv
he decided to put the onus on republicans saying that the fiscal cliff negotiations are up to them. gop leaders now say the president should stop playing the blame game. full details, coming up. the capital one cash rewards card gives ases, plus a 50% annual bonus. and everyone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? no! ♪ festive. [ male announcer ] the...
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Dec 27, 2012
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gregg: as washington debates the fiscal cliff we are also days away from another financial crisis. the u.s. government is poised to hit its debt limit on monday. what happens if congress doesn't raise the debt sealing? douglas holtz ee eakin is a former director of the nonpartisan budget direction office and is president of american action firearm. thapblgs for being with us. what happens if they don't raise the ceiling? >> ultimately congress has to raise the ceiling. it's simply naive to believe you could ever put the level of spending kick quickly become to the level of revenues and not have to borrow some more. it doesn't have to happen until february or march. ment soak of the treasury has a lot of tools available to push off when you actually hit the debt limit. waoes going the's going to do that and run the usual bag of tricks to avoid the debt ceiling. gregg: timothy geithner can move money around between now and february. we don't really need to panic, do we? >> no, you don't need to panic. essentially the he secretary of the treasury will raid retirement funds them apprai
gregg: as washington debates the fiscal cliff we are also days away from another financial crisis. the u.s. government is poised to hit its debt limit on monday. what happens if congress doesn't raise the debt sealing? douglas holtz ee eakin is a former director of the nonpartisan budget direction office and is president of american action firearm. thapblgs for being with us. what happens if they don't raise the ceiling? >> ultimately congress has to raise the ceiling. it's simply naive...
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Dec 28, 2012
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cliff negotiation is concerned. both the republicans and democrats seem very inclined to allow payroll taxes to go back up for people who earn $50,000 a year. that's $1,000 less they will take home next year, and that's real money. >> the perception is they're doing that to help those zillion nares and billionaires at the top. i mean, to add to the pain is why you may be facing the pain is for people that have no pain might have a little less pain even more. i mean, it's incredible. you know, yes, it's good to say, but saving for a rainy day is good for those not drenched with the rain. you talk about people in the rain that are going to suffer who has this whole sermon that we hear from washington of shared sacrifice when we didn't have shared prosperity. >> absolutely. but those people who actually are trying to save right now, we've got a whole enormous sector that has absolutely no rainy it day fund whatsoever. half of the americans are financially fragile. they couldn't come up with 2,000 if they needed to come
cliff negotiation is concerned. both the republicans and democrats seem very inclined to allow payroll taxes to go back up for people who earn $50,000 a year. that's $1,000 less they will take home next year, and that's real money. >> the perception is they're doing that to help those zillion nares and billionaires at the top. i mean, to add to the pain is why you may be facing the pain is for people that have no pain might have a little less pain even more. i mean, it's incredible. you...
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Dec 28, 2012
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cliff negotiations. but the white house clearly wants to have the business community in this country on their side politically. they view them as a potential ally in this putting pressure on capitol hill, republicans in particular, to move something over the weekend. but we're running out of time here. if they're back in town at 6:30 on monday -- on sunday, rather, that gives them sunday night and monday to try to pass something, not a lot of time in washington terms. >> okay, eamon javers, thanks so much for keeping us updated. let's bring in the rest of the options action crew and talk about the markets. mike not very good action today. closing at session lows and futures look to be rough on monday as well. >> yeah, it's interesting, when they filed out of the white house, this was post close, if you're looking at the mini futures, they dropped by about ten handles off that. a lot of disappointment among the futures markets at what isn't going on there. i think there's good reason for that, but it's ha
cliff negotiations. but the white house clearly wants to have the business community in this country on their side politically. they view them as a potential ally in this putting pressure on capitol hill, republicans in particular, to move something over the weekend. but we're running out of time here. if they're back in town at 6:30 on monday -- on sunday, rather, that gives them sunday night and monday to try to pass something, not a lot of time in washington terms. >> okay, eamon...
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Dec 26, 2012
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and democrats agree on only fiscal cliff will cut gdp growth substantially. you think what effect the government spending 7% plus of our gdp on debt to bases every year for the last four years, you're talking about north of a trillion dollars economic impact. ashley: you say stay away from equities, what in particular? >> long-term treasuries a deflation hedge. the stability and coupons, emerging market coupons for some holdings in newly emerging market equities. keep in mind i am not saying stay completely away from equities. normal risk exposure. ashley: what about gold, do you like the mining stocks as compared to the gold etf? >> i do like the mining stocks trading at 30-year lows and price relative to gold. if you own some equities, it is preferable in the gold sector. ashley: investment officer joining us by phone this afternoon. thank you so much. the closing bell rings fairly soon here, under six minutes time. can you guess which tech companies are up more than 100% this year? known as the google china poised to take on apple with new technology. we w
and democrats agree on only fiscal cliff will cut gdp growth substantially. you think what effect the government spending 7% plus of our gdp on debt to bases every year for the last four years, you're talking about north of a trillion dollars economic impact. ashley: you say stay away from equities, what in particular? >> long-term treasuries a deflation hedge. the stability and coupons, emerging market coupons for some holdings in newly emerging market equities. keep in mind i am not...
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Dec 27, 2012
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he also referenced the impending fiscal cliff, which threatens to derail the economy if a compromise can't be reached by next week on those big unanswered issues. with both sides locked in the standoff, house republicans are calling on senate democrats to act first. democrats aren't budging much on their demands. they want to extend tax cuts and incomes below $250,000, prolong unemployment benefits, and delay those sweeping spending cuts. sam stein. >> yes. >> what happens in -- and it appears it will happen -- we go off the fiscal cliff for a few days? >> not much, is my understanding. kwb, over time, it will have much more of an impact, and it's unknown exactly what the market's psyche will do with respect to the government's inability to come together. with respect to the tax hikes, it won't be as bad as the rhetoric is suggesting early on. whether it's enough to actually get people to get back to the negotiating table -- because i agree with you, i think we're going to go over that deadline, that's the big question. what kind of political ramifications it will have. it's not as i
he also referenced the impending fiscal cliff, which threatens to derail the economy if a compromise can't be reached by next week on those big unanswered issues. with both sides locked in the standoff, house republicans are calling on senate democrats to act first. democrats aren't budging much on their demands. they want to extend tax cuts and incomes below $250,000, prolong unemployment benefits, and delay those sweeping spending cuts. sam stein. >> yes. >> what happens in -- and...
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Dec 31, 2012
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that this fiscal cliff thing is too much austerity so quickly. at one point. so what is the worst case scenario at this point? >> well, austerity works both ways. austerity for the public sector is stimulus for the private sector. it's the same money, you're just shifting it from one pocket to another. spending cuts would be very reassuring to the markets. you're hearing that if government spending is cut, that money disappears from the economy. that's not correct. that money has to be cycled into the private sector. that's a good thing. so austerity in terms of shrinking the size of government, or the growth of government would be very healthy for the economy. austerity in europe is something elsewhere because of the euro situation you have to cut people's wages to make those countries competitive again. that's a completely different issue, austerity in terms of reversing the tremendous increase we've had in government spending over the last four years, we've gone from 2.9 trillion to 3.8 trillion in 30-odd percent increase in four years. and th
that this fiscal cliff thing is too much austerity so quickly. at one point. so what is the worst case scenario at this point? >> well, austerity works both ways. austerity for the public sector is stimulus for the private sector. it's the same money, you're just shifting it from one pocket to another. spending cuts would be very reassuring to the markets. you're hearing that if government spending is cut, that money disappears from the economy. that's not correct. that money has to be...
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Dec 31, 2012
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will there be a framework to avoid the fiscal cliff? ashley: up to the minute coverage from washington. guess what, republicans should just walk away now. oh, boy. ♪ [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...yoll bust yourrain box. ♪ all onhinkorswim from td ameritrade. ♪ ashley: breaking news. there is the podium. no one in front of it. live pictures from the white house. president obama set to speak shortly from this location as lawmakers definitely try to hammer out a deal on the fiscal cliff. of course we'll bring you his comments live which are stated -- slated to begin anytime. it could be a little tenuous when he actually speaks. we'll keep an eye on it. as soon as he does we'll bring it to you live of course. stocks hanging in there up 53 points. let's go to our own diane macedo on the floor of the nyse. >> ashley, stocks are looking better than the
will there be a framework to avoid the fiscal cliff? ashley: up to the minute coverage from washington. guess what, republicans should just walk away now. oh, boy. ♪ [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...yoll bust yourrain box. ♪ all onhinkorswim from td ameritrade. ♪ ashley: breaking news. there is the podium....
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on the fiscal cliff. republicans have been resisting that by announcing the debt ceiling limit will be held on monday, ratchets up the pressure to include the debt ceiling piece in the final package, whatever that may be, but still not clear, carl, there is going to be a final package of any kind. one quick note, we saw the realism. pact in the real world of the debt situation. treasury announcing yesterday it has suspended the sale of state and local government securities, government series securities. so already, they are doing some maneuvering here financially to try to avoid that debtly limit. the treasury secretary says he doesn't know how much wiggle room they are going to have, given that all the fiscal cliff uncertainty is out there. >> eamon, on this idea that the house members get called back with 48 hours' notice. traders are looking for that headline if it happens almost that bleed out there or procedural moment where that is announced, so to speak? >> a good question. i have been in touch wit
on the fiscal cliff. republicans have been resisting that by announcing the debt ceiling limit will be held on monday, ratchets up the pressure to include the debt ceiling piece in the final package, whatever that may be, but still not clear, carl, there is going to be a final package of any kind. one quick note, we saw the realism. pact in the real world of the debt situation. treasury announcing yesterday it has suspended the sale of state and local government securities, government series...
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Dec 29, 2012
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countdown to the fiscal cliff. there are some signs of hope this morning. and it oob thanks to republican senate minority leader mitch mcconnell. peter doocy live in washington with the very latest. peter, i guess they reconvene 1:00 tomorrow which leads them oh tons of time to avert that fiscal cliff you are hearing from administration officials down here that republican the senatech mcconnell the is trying really hard to figure out a way to avoid the fiscal cliff public. >> we had a good meeting at the white house. we are engaged in discussions, the majority leader and myself and the white house in the hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the expwrort leader can make to his conference. >> at yesterday's white house meeting, president obama did not offer negotiators anything new. he just tried to sell them on the same plan he outlined last friday, being called plan c. since the president's plan a and speaker boehner's plan b both failed to gain traction. plan c would extend middle
countdown to the fiscal cliff. there are some signs of hope this morning. and it oob thanks to republican senate minority leader mitch mcconnell. peter doocy live in washington with the very latest. peter, i guess they reconvene 1:00 tomorrow which leads them oh tons of time to avert that fiscal cliff you are hearing from administration officials down here that republican the senatech mcconnell the is trying really hard to figure out a way to avoid the fiscal cliff public. >> we had a...
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Dec 26, 2012
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and the democratic party, but ultimately we go through the fiscal cliff and hold it through the fiscal cliff or over the fiscal cliff, it damages everybody, all spectrums of income, tax brackets. it would hurt the economy. we just don't think that politicians are that dedicated or that adamant on the positions that they hold at least today. so we think we're going to -- in terms of towards the end of the year here, it doesn't look like they're going to repair this thing before new year's day but we do think that what will happen is in january they'll get their act together and we'll get something to go forward. we think the markets will respond positively. >> you do admit that things could get a whole lot worse from a market standpoint before they get better, right? >> if nothing is done, and we just do not feel at this point that knock will be done. we think that investors who are concerned that nothing will be done and the washingtonians will stick to that through the first quarter flat second quarter should be buying puts at this point. from the perspective that we see now, from the
and the democratic party, but ultimately we go through the fiscal cliff and hold it through the fiscal cliff or over the fiscal cliff, it damages everybody, all spectrums of income, tax brackets. it would hurt the economy. we just don't think that politicians are that dedicated or that adamant on the positions that they hold at least today. so we think we're going to -- in terms of towards the end of the year here, it doesn't look like they're going to repair this thing before new year's day...
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Dec 26, 2012
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we believe the president does want to go over the fiscal cliff. >> boehner will be in the situation, do i get democratic votes. >> this is about the little guy on the street said that the republican people are losing. the american people are losing even more. david: are we going to go into a recession if we go off the cliff? you think we will be back i am not so sure about it. if you will cut spending, that is the issue. would we go into recession if we go over the cliff and they do not restore the spending cuts?
we believe the president does want to go over the fiscal cliff. >> boehner will be in the situation, do i get democratic votes. >> this is about the little guy on the street said that the republican people are losing. the american people are losing even more. david: are we going to go into a recession if we go off the cliff? you think we will be back i am not so sure about it. if you will cut spending, that is the issue. would we go into recession if we go over the cliff and they do...
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Dec 28, 2012
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cliff. we have the bottom line, and, liz, this is something to use as investors plot a strategy with no ciedged of come presenceble answers. >> here's the companies that could dive first without the compromise. you'll see them here. it's curtesy of goldman sachs, and dozens of companies expected to be affected. it's not just defense companies. it's also other companies that get a lot in the way of government contracts, and there's companies here, get 50% or more of their sales from government contracts. really interesting stuff. it's not just, again, defense companies. you're going to see waste management in there, an environmental company. motorola in there as well. we talked to fidelity. they are concerned as well telling amists to watch for certainly insexes -- indexes and others that cover financials and others cited there. adam: i have friends saying there's no fiscal cliff, it's make believe trumped up by the media and parties to scare people, get rate, and, perhaps bring about policy
cliff. we have the bottom line, and, liz, this is something to use as investors plot a strategy with no ciedged of come presenceble answers. >> here's the companies that could dive first without the compromise. you'll see them here. it's curtesy of goldman sachs, and dozens of companies expected to be affected. it's not just defense companies. it's also other companies that get a lot in the way of government contracts, and there's companies here, get 50% or more of their sales from...
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we may have the first sign of progress on the fiscal cliff. >> huh? >> listen up. just minutes ago on "fox news sunday" republican senator are lindsay graham said this. >> i think people don't want to go over the cliff if we can avoid it. what have we he accomplished? political victory for the president. he stood his ground. will get tax rate increases maybe not at 250 but on upper income americans and the sad news for the country is we accomplished very little in term its of not becoming greece or getting out of debt. this won't affect the debt situation. >> sort of hats off, wink, wink. >> the president told "meet the press" they hope to get a deal condon in the next 48 hours. >>> police say a guy broke into a woman's home and drove her to the bank of america branch where she worked. she triggered an alarm but the suspect escaped before police arrived. it took the bomb squad three hours to remove the device from her neck. she did escape unharmed luckily. >> a best friend becomes a hero after rescuing a boy who fell through the ice in iowa. they were walking on a
we may have the first sign of progress on the fiscal cliff. >> huh? >> listen up. just minutes ago on "fox news sunday" republican senator are lindsay graham said this. >> i think people don't want to go over the cliff if we can avoid it. what have we he accomplished? political victory for the president. he stood his ground. will get tax rate increases maybe not at 250 but on upper income americans and the sad news for the country is we accomplished very little in...
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for going over the fiscal cliff? all of them. >>epublicans came to a gun fight with a knife. and probably all of them are going to blame the republicans. listen, taxes are going up. we're just talking about how much taxes go up, and on whom. >> would you -- if you were in the house, and you were one of these guys that got elected in 2010 and then re-elected, a lot of them did get re-elected, and supposedly don't care if they get re-elected again, would you use the debt eagle? once we go through this and the cliff is no longer, would you play hardball with the debt ceiling knowing that you're going to be blamed for that and lose your seat in 2014? >> it would depend on the promises that i made to get elected. what we have is a roomful of people who made promises that probably can't be kept. and they're worried about going home, and giving a speech in a high school auditorium and having somebody stand up in the back and say, hey, you said you wouldn't raise taxes under any circumstances. so that's an impossible promise
for going over the fiscal cliff? all of them. >>epublicans came to a gun fight with a knife. and probably all of them are going to blame the republicans. listen, taxes are going up. we're just talking about how much taxes go up, and on whom. >> would you -- if you were in the house, and you were one of these guys that got elected in 2010 and then re-elected, a lot of them did get re-elected, and supposedly don't care if they get re-elected again, would you use the debt eagle? once...
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being up at all with the fiscal cliff really looking like we're -- why wouldn't we head over. you go back to 39.6 on anybody 250 and above and ride in and lower taxes and be a hero. see republicans vote against that. >>> pre-christmas shopping rush wasn't much of a rush at all, at least not the type economists were expecting. a mastercard spending poll reports holiday sales were up .7 of a percent a year ago well below expectations. and we'll get a fresh read also on home prices when the monthly ca case-shiller report comes out at 9:00 eastern and congress thinks it will show 3.7% in prices for october from a year earlier, continued improvement. and netflix customers were hit by a partial holiday outage, some unable to access the service from clrm eve through thursday morning. they should have been spending time with the family around the hearth. >> a lot of people do it around the tv. >> unable to download any "walking dead" episodes during the holiday. netflix says the source of the problem was a server operated by amazon web services unit. ready to blame them. >> always ama
being up at all with the fiscal cliff really looking like we're -- why wouldn't we head over. you go back to 39.6 on anybody 250 and above and ride in and lower taxes and be a hero. see republicans vote against that. >>> pre-christmas shopping rush wasn't much of a rush at all, at least not the type economists were expecting. a mastercard spending poll reports holiday sales were up .7 of a percent a year ago well below expectations. and we'll get a fresh read also on home prices when...